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Specialty Loan Programs

Specialty Loan Programs

Non-QM Loans

If your mortgage needs are different than that of the average person, don’t worry, we can help!

At Great Northern Mortgage, we’ve seen it all. We know there are a lot of people for whom conventional mortgage products aren’t quite right. That’s why we’re happy to offer niche products to help you achieve your homeownership goals.

Bank Statement Programs

What is a Bank Statement Loan?

If you don't qualify for a FHA or conventional loan due to not showing enough income, a bank statement program may be just what you need. 

If you’re self-employed, your employment history and tax returns may not tell an accurate story about your financial health from the viewpoint of a traditional mortgage lender. A bank statement program gives you another way to demonstrate your suitability as a borrower.

Program Details:

  • 12 or 24 months of bank statements can be used in lieu of pay stubs
  • No tax returns required!
  • Borrow up to 90% of the value of the home
  • Debt-to-income ratios up to 55% accepted
  • Loans up to $3 million offered
  • Can be used for both primary and secondary homes, as well as investment properties
  • Non-warrantable condominiums
  • 30-year fixed rate with no prepayment penalty

Foreign National Home Loans

Financing for Overseas Buyers

If you are a non-U.S. resident who is interested in purchasing real estate in the United States, loan programs exist to help you achieve this goal, regardless of your residency status. Get prequalified for a loan, even without U.S. credit history.

Program Details

  • No U.S. credit history is required to qualify
  • Borrow up to 75% of the value of a home
  • Borrow without showing your debt-to-income ratio
  • Available for single family residences, condos, and 2-4 unit homes
  • Loans available up to $3 million
  • Note that this program is only available to finance the purchase of second homes and investment properties.

Investment Property Loans / DSCR Loans

Make investments in real estate a new income stream

Investing in real estate is a good way to diversify your income, and generally provides good returns on your investment. Great Northern Mortgage has programs available to help you buy multiple properties.


  • Borrow up to 75% of the value of a home
  • Loan amounts up to $3,000,000 available
  • Loans available for single family houses, townhouses, condos, and 2-4 unit homes
  • Properties for Limited Liability Companies acceptable
  • Qualify Using Subject Property Income ONLY
  • Minimum 1.00 x DSCR
  • No Debt-to-income ratio or Global Ratio Calculated
  • No Tax Returns or W2s required. Not a Bank Statement Program
  • No Statement of Employment or Income required

Owner-Occupied, No Employment & No Income Stated


  • Borrow up to 75% of the value of a home
  • Self-Employed and Wage-Earner eligible
  • 1-4 Units, Condos, Coops, PUDs
  • First-time Homebuyers Eligible
  • Loan amounts up to $3,000,000 available
  • 100% Gifts Allowed for Down Payment, Closing Costs, Reserves
  • No Debt-to-income ratio Calculated
  • No Tax Returns or W2s required. Not a Bank Statement Program
  • No Statement of Employment or Income required
  • 1 Month Bank Statement required for assets to close and canceled check in lieu of Bank Statement for the down payment check

Hard Money / Bridge Loans

Bridge loans are commonly used to solve immediate business concerns challenging working capital, real estate transactions and improvements, and debt. Great Northern Mortgage can provide a ready solution to pressing situations individuals and businesses face including acquisitions, crucial repair work before insurance claims are settled, impaired credit, borrower distress, foreclosures, tax liens and judgments, bankruptcies, estate taxes, litigation, vacancies, blanket mortgages, divorce, illness and death.

Great Northern Mortgage is able to provide funds quickly because we have access to national and international sources of private capital. Since these sources use their own private funds, they are not encumbered by prohibitive regulations, which institutional lenders must follow.

Main benefits: flexibility, speed, cost-effective and competitive relative to other financial options.

Please contact us if your loan scenario cannot be adequately handled by traditional lending sources either due to time constraints, deal complexity or the transitional nature of the property.


  • Loan Size – $200,000 to $5,000,000
  • Type of Properties – 1 to 4 families, investment only, and commercial
  • Terms – 12 to 36 months
  • Rates – 9% to 14% per annum, interest only, depending upon collateral and loan structure
  • Fees – 2 - 4% of the loan amount as origination and underwriting fees
  • In some cases, interest, fees, and points can be included in the loan
  • Prepayment – at least 6 months
  • All loans are based on a Loan-to-Value Ratio that’s up to 70% of the quick-sale value of the collateral
  • Bank workouts, foreclosures, bankruptcies, purchases and bankruptcy financing are all acceptable, as are other kinds of complex funding